Here come factory orders ...

The Department of Commerce will release its final July report on factory and durable goods orders at 10 a.m. ET.

Factory orders are forecast to rise 2%, following a 1.5% decline in June, according to Bloomberg.

The preliminary report showed that orders for goods built to last rose 4.4% during the month. Excluding transportation orders, which are often volatile month-to-month, durable goods are estimated to rise 1.5%.

Capital goods orders for non-defence items excluding aircraft, or so-called core durable goods, were reported at 1.6% in the prior report.

After three straight quarters of contraction in business-equipment spending, a rebound in orders would boost expectations for stronger economic growth in the third quarter.

More to come ...

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